Starting a music business

One in every four businesses (could be less in this recession) survives in the first few years - do not mean to throw cold water but only true friends care about the risk your friends are taking.

You need an advantage (such as good in music eduction) and a niche of the market is opening up (such as more kids and the growing middle class). Hard work is a must (the old days of coming to the office to sign paper and going back to sleep are gone for all except your father owns the business).

I wrote software for TRS-80 (the first practical PC) - this was the niche. I was a programmer (that was my advantage) and my wife's insurance covered the entire family (so the risk was manageable). There were many programmers in the same situation, but few had the gut to start a business. Even for my failure, you have to admire my gut.

It had been 5 enjoyable years. Bill Gates finally caught up with me. My 10 software programs written by 1 programmer (me) could not compete with 1 software program written by 100 programers. After so many years, my co-worker then still remembered my ad "Top quality software at mass production price". The company was Micro Architect Inc. Incorporation is a necessity  to reduce the liability in selling accounting software.

I had been excited spiritually with the dream of making big money though reality is cruel. I did make some money especially after the tax-deductible expenses (you can deduct your meals at McDonald's for example as long as you talked about business during the meals).

If you have an opportunity (= niche + advantage) and you do not take it, you will regret it for the rest of your life. Life without hope and dream is not a life worth to live for for many. In another words by a famous Chinese, that life is the same as a salted fish (dead and smelly) - must be lost in translation.

My friend, a mechanical engineer, thought of making a machine to automate wrapping won tons when there was nothing similar in the market. If you do not try it, it remains a dream and a regret forever.

A friend after layoff started a restaurant because he is big and likes food (his advantage). Of course, it failed as the restaurant business (not a niche) is the easiest business to open but the toughest business to be successful.

A friend in Hong Kong partnered with his friends to start a broker firm (not a niche). He lost all the money by taking verbal orders (not a niche). The list goes on and on.

The only 2 billionaires (an advantage by knowing the languages and cultures in both countries at that time) I know participated in IPOing for Chinese companies (a niche at the time). They are the exceptions rather than the norm.

The objective of my writing books is not for money but sharing my ideas and building my 'legacy'. It also gives me a break in doing something enjoyable when the market is risky. My English (not my native language) is more a challenge than an advantage but today's digitized publishing is a niche.

Opportunities knock in every generation to every one two or three times in a lifetime. Evaluate them before you leap. Prepare yourself for failure. Even if you fail, you will never regret the decision for chasing after the dream and at least you have something to tell your grandchildren.

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